dsm-firmenich Expands Share Buyback Program to €1 Billion
dsm-firmenich Enhances Share Repurchase Program
dsm-firmenich, a leader in nutrition, health, and beauty, has made a significant announcement regarding its share repurchase program. The company plans to increase the total buyback value to €1 billion, aimed at reducing its issued capital. This decision comes after the successful completion of the sale of its share in the Feed Enzymes Alliance.
Details of the Share Buyback Initiative
Initially, dsm-firmenich initiated a share repurchase program valued at €500 million. However, the recent developments and the completed sale enabled the company to revise this figure to €1 billion. The first phase of the program, which started with an investment of €580 million, has already covered commitments related to share-based compensation plans, ensuring alignment with investor interests.
Phases of the Buyback Program
The company's approach to its share repurchase strategy consists of different phases. As part of this initiative, dsm-firmenich commenced its share buyback at €580 million, encompassing management of €80 million for compensation plans and €500 million aimed at decreasing capital stock. The pinch point for the subsequent €500 million tranche was tied to the finalized sale of its stake in the Feed Enzymes Alliance.
Execution and Management of the Program
The total value of the share repurchase program is now set at €1,080 million, effective from the recent date. Execution of this strategy adheres to the Market Abuse Regulation alongside the appropriate guidelines of Swiss law. For operational efficiency, dsm-firmenich has established a discretionary buyback agreement with a financial institution to oversee the buyback execution, ensuring independence in trading decisions.
Market Impact and Shareholder Communication
dsm-firmenich has proactively engaged with the market as part of its transparent operations. As of the latest reports, approximately 3.6 million shares have been repurchased, indicating significant progress. The current remaining quantity for repurchase stands at around 8.1 million shares, representing about 3.0% of the firm's ordinary shares issued. Weekly updates will be provided through press releases, keeping stakeholders informed of the developments in this enhanced buyback strategy.
Investor and Media Relations
For inquiries related to investor relations, dsm-firmenich encourages contacting their dedicated team. They can be reached via email at investors@dsm-firmenich.com. The media relations can be accessed at media@dsm-firmenich.com for any press-related inquiries. These communication channels are pivotal for reinforcing the company’s commitment to stakeholder engagement.
About dsm-firmenich
dsm-firmenich is a pioneering force in the realms of nutrition, health, and beauty. The company specializes in reinventing, manufacturing, and blending vital nutrients, fragrances, and flavors to support the burgeoning global population. With a focus on sustainability and innovation, dsm-firmenich utilizes natural ingredients and advanced scientific capabilities to deliver essential products for life. Boasting dual headquarters in Kaiseraugst, Switzerland, and Maastricht, Netherlands, the company operates across nearly 60 countries, reporting revenues exceeding €12 billion. The diverse team of around 30,000 employees is committed to fostering global progress and sustainability every day.
Frequently Asked Questions
What is the new total value of the dsm-firmenich share repurchase program?
The total value of the increased share repurchase program is €1 billion, with the program now set at €1,080 million.
How many shares have been repurchased so far?
Approximately 3.6 million shares have been repurchased under the current share buyback initiative.
When did the share repurchase program initially start?
The initial phase of the share repurchase program started with an investment of €500 million.
What will be the future reporting practices for the buyback program?
dsm-firmenich plans to provide weekly updates on the progress of the share repurchase program through press releases.
How can investors contact dsm-firmenich for inquiries?
Investors can reach out via email at investors@dsm-firmenich.com for any inquiries related to investor relations.
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